Latest Reviews and Complaints
Proxy vote process
To streamline for many of the voting processes for individual proxy voters with mostly very limited time to read proposals recommend have >one or two simple texts abstract sentences or so for staff board of directors election overviews as a choice over multiple sentences and paragraphs that are often too lengthy (e.g., over fifty pages) and difficult to...
Read full complaint4 Morgan Stanley Complaints
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E*Trade
I spoke with a Financial Services Representative from E*TRADE about how to get my late husband's name, Frank Nelson Kidney, removed from our Joint Account with Rights of Survivorship (676 396584). On November 25, 2021, I wrote E*TRADE to request this and included my late husband's original death certificate along with a Cost Basis Adjustment and a Complete...
Read full complaintFailure to execute orders to transfer stock
Brokerage E*trade has not completed stock transfers to accounts at Morgan Stanley and Fidelity ordered Sept. 25 & 26. Frequent contact with “platinum service” group has not produced result. All attempts to find alternate complaint route have resulted in return to platinum group. No plausible reason for the delay has been offered. This delay prevents me...
Read full complaintfruad
Morgan Stanley lost my companies 401k saving for all our employees.
We were told it would be a safe investment rated AAA
We did not choose anything aggressive in terms of investing. It was supposed to be secure most importantly a safe investment. Morgan Stanley made reckless trades, some trades consisted of selling and rebuying the same investment. They did this to make a commission on the sale and purchase of the same instrument.
There was no point in the buy and sale. It made no money for us, but each time they did that we had to pay the commission fee.
The complaint has been investigated and resolved to the customer’s satisfaction.
Morgan Stanley complaints: history and resolution overview
Out of all reported cases, 1 complaints (25%) have been marked as resolved, while 3 complaints (75%) remain unresolved. The most recent resolved complaint, fruad, provides additional insight into how customer issues have been handled.
Customer feedback spans multiple years and reflects a range of user experiences. A majority of complaints remain unresolved, which may be important to consider when evaluating the company.
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It is so irritating how big companies like banks think they can do whatever they like without facing the consequences
I hope they got what they deserve
I am an ex-Morgan Stanley employee. The amount of risks that the firm takes with systems that cant handle the financial products are amazing to even me. The risk management department is understaffed with poor leadership and black boxes everywhere. The books are confusing and the systems are so outdated that giving your money to Morgan Stanley is a risk in itself. Dont trust this firm, it looks great on the outside, due to their tactics on manipulation of capital markets trading. The leaders are crooks and so are their employees who are lifers there. I really found it disgusting to work in such an environment, I hope they go under, or change their management including firing the MDs in all the major areas, especially Institutional Trading and Risk Management.
By the way, FINRA and SEC are so idiotic, they dont know wtf is going on in the front lines. These regulators are window dressers and the FRB wants financial firms to fail so they can lend money WITH INTEREST to ailing financial firms, its a scheme. The FRB also does not have a strict oversight method nor will plan on doing so, why? Cause Interest is the name of the game for the FRB, this is how international bankers profit from world chaos. Keep at it Morgan, they create cashflow for the FRB, FINRA and SEC.
Cyan,
My condolences to you and your company. As an advisor, if everything that you are stating is accurate, what Morgan Stanley did is unethical and illegal. They can not continuously buy and sell securities to generate commissions for themselves. If you haven't already, I would contact the SEC and also FINRA and let them know what is going on.
Sincerely,
Chris